Weekly analysis of Sensex: 29th April to 3rd March 2013

The market  will  looking sluggish this week the resistance of 19712 will be a major resistance for this week the market is expected to have  18624 as a support at lower side. we are seeing a negative divergence in in Sensex, this may drive to 18624.

 Am I bullish on Sensex?

No, I expect a consolidation. We are seeing a risk building out in Sensex, as per me this week is the week for profits booking. Most of the short term players may book profit this week.

How much consolidation is good for Sensex?

18510-18000 need to be the support below which market is not healthy to grab. If market manages to consolidate below 18000 levels we may see a free fall upto 17500/16900.

Technical view on ABB Ltd

It is a long time that I left ABB Ltd, I thought it is not having any upside potential. The stock is near to its high and I was looking for a better pattern to form in this stock. During a recent analysis I found some positive potential things which can kick this stock high, and they are as follows:

• Candle-Stick Pattern: On Friday, we witnessed a  engulfing pattern in this stock.

• Indicator&Divergence: The stock price has been making a LH and we are seeing RSI making HH along with that we have seen RSI being sentimental to 30&70% buy and sell levels. Which is an indication that the stock may fall in further days. On other hand we are about to see a MACD zero-line crossover. If we see this happening we may find this stock on bullish side.

• Trend-line and SAR: The stock is having a resistance around 767/823/873 and the stock is having a recent support between 700-710. The trend-line is also posing a hurdle for this stock.

• Fibonacci levels:

• Conclusion: if we seen this stock crossing above 770 we can surly make a profit of 10-12% with a span of 2-3 months. A caution is recommended as this stock is sentimental with RSI's 30&70% levels. we have recently seen this stock above 70%. Have an eye on divergence

Technical Analysis on Request: Andhra Bank

Kindly look at corrections

Resistance as good support

My 1st Target is at 130

It is "Falling Wedge" and MACD about to cross zero-line 

Tata Steel: It’s again. I AM RIGHT

I have been saying again and again. Gaps are playing games. In spite my analysis gave whopping returns of +45% which was unexpected as per my analysis.

Later, I came with a new prediction that Tata Steel is going to fall. As there was a good sentiment in the market, the stock was successful filling the gap again. After which we saw the stock with a reversal and carrying a sideway pattern.

What’s next?

The stock is not technically strong and I am looking for a support as per the above chart. It will to too early to say anything before we see a pattern.

Moving Average Crossover Divergence is about to make an another bearish crossover

My articles on Tata Steel

1. Tata Steel: Waiting for a fall(5th March, 2012):Click hear
2. Tata Steel:Tata Steel: Regular Bullish Divergence(29th December,2012): Click hear

IVRCL Ltd: Technical View

Forming Rising wedge

"Trend is your friend"

"What if it break trend?"